Truth in Savings Disclosure

Revised 9/01/09

This Credit Union is federally insured by the National Credit Union Administration.

The Rate Sheets describe certain conditions, rates and fees applicable to the Credit Union at this time. The Credit Union may offer other rates and amend the conditions or fees from time to time. All interest and dividend rates and yields are determined by us and are effective as of the date indicated above. Savings and Checking account rates are variable and may change at any time. Account fees may reduce earnings. For Certificate Accounts, there is a penalty for early withdrawal of principal. Each account holder agrees to the terms stated in this Rate Sheet and acknowledges that it is part of the Truth in Savings Disclosures / Fee Schedule and the Membership & Account Agreement.

DEPOSIT ACCOUNTS

1. Rate Information - The Interest/Dividend Rate and Annual Percentage Yield on your deposit accounts are stated on the applicable Deposit or CD Rate Sheet and may change at any time as determined by us. For all Certificates of Deposit, the Interest Rate and APY are fixed and will be in effect for the term of the Account. The APY is a percentage rate that reflects the total amount of interest/dividends to be paid on an account based on the interest/dividend rate and frequency of compounding for an annual period. The APY is based on the assumption that interest will remain on deposit until maturity. A withdrawal of interest will reduce earnings. Dollar Dog accounts will earn the Interest Rate and APY stated on the Rate Sheet as long as you maintain the Dollar Dog minimum balance requirement. The Dollar Dog membership is valid until the age of thirteen (13), at which time the account will be converted to a Regular Shares account and will earn the applicable Dividend Rate and APY for the Regular Shares account. The GO! Money membership is valid until the age of eighteen (18), at which time the GO! Savings account will be converted to a Regular Shares account and will earn the applicable Dividend Rate and APY for the Regular Shares account. For Dollar Dog and GO! Savings accounts, no interest will be paid on days the ending account balance falls below $5. For Money Market account balances of $2,500 or more, the Interest Rate and APY are tiered as stated on the Rate Sheet and, once you meet the applicable balance requirement, will apply to all funds in the account. For account balances below $2,500, the Dividend Rate and APY stated for Regular Shares will apply to the entire balance. The Guaranteed Money Market account requires a $25,000 minimum balance to open the account and to earn the promotional APY. The promotional APY is guaranteed for six months from the date of account opening. If your balance falls below $25,000 during the promotional period, your rate will change to the current APY earned for Regular Shares. After the six month promotional period ends, the account will convert to a Money Market Account with variable rates and APYs based on the account balance as described on the Rate Sheet. The New Member Savings account is available for first 30 days that a new membership is open. New Member Savings accounts will automatically convert to a Regular Shares Account at the first month-end following the 12 month membership anniversary. For Rewards Savings, to earn the Tier 1 or 2 Rates and APYs, you must sign up for and receive e-Statements. If requirements are not met, you will earn the disclosed Rate and APY on your savings balance for that statement cycle. New Member and Rewards Savings accounts are limited to one account per membership and business accounts are not eligible. For Rewards Checking, to earn the Tier 1 or 2 Rates and APYs and to receive ATM fee and surcharge refunds, you must meet the following requirements each Rewards cycle, which begins one day before the last day of each month: at least twelve (12) debit card transactions; log in to Online Banking; and receive e-Statements. If requirements are not met, you will earn the disclosed Rate and APY on your checking balance for that statement cycle. Rewards Checking accounts are limited to two accounts per membership and business accounts are not eligible. Rewards Certificates earn the disclosed Rates and APYs if the membership has a new or existing Rewards Checking account or the CD is opened with a deposit of at least $25,000 new money to Rivermark; may not be combined with any other offer, including Mortgage Rewards.
   
   
2. Nature of Dividends - Dividends on Regular Shares are based upon the Credit Union’s current income and available earnings after transfers for required reserves at the end of a dividend period. The Dividend Rate and APY stated on the Rate Sheet reflect the earnings the Credit Union anticipates having available for distribution.
   
   
3. Compounding and Crediting - The Rate Sheet describes the time frames for compounding and crediting interest/dividends.
   
   
4. Balance Information -The minimum balance required to open each account and earn the APY is stated on the Rate Sheet. For all accounts, interest/dividends are calculated by the daily balance method, which applies a daily periodic rate to the full amount of principal in the account each day. The Guaranteed Money Market service fee is waived when you maintain a $25,000 average daily balance in your Guaranteed Money Market account. After the six month promotional period described above, the Guaranteed Money Market account will convert to a regular Money Market Account which has no monthly service fee.
   
   
5. Accrual of Interest/Dividends - Interest/Dividends will begin to accrue on cash deposits and on non-cash deposits (e.g. checks) on the business day you make the deposit to your account.
   
   
6. Transaction Limitations - For Holiday and Tax accounts, any withdrawal made outside of a “window period” may be assessed an early withdrawal penalty. Window periods are between March 15 and April 30 and between November 1 and December 15 of each calendar year and may change at any time. Also, we may impose a fee if you withdraw principal after the first seven days of opening your account. At our option, we may pay the account before maturity without imposing an early withdrawal fee. For Add-On IRA and GO! Certificates of Deposit, additional deposits may be made to the certificate until it matures. The Interest Rate will not change, but additional deposits may affect the APY disclosed at the time that the certificate was opened. For Certificates of Deposit, if the account falls below the minimum balance, it will be closed and the remaining funds will be transferred to your Regular Shares account.
   
   
7. Transfer Limitations - For Regular Shares, Dollar Dog, GO! Savings, Money Market, Guaranteed Money Market, Rewards Savings and New Member Savings accounts, you may make up to six preauthorized, automatic, overdraft, or telephone (including Telephone Teller and Online Banking) transfers from this account per month; of the six, no more than three transfers may be made to a third party by check or debit card purchase. A preauthorized transfer includes any arrangement with the credit union to pay a third party from your account upon written or oral orders (such as your automobile insurance company or health club), including orders received through the Automated Clearing House (ACH). There is no limit on the number of transactions you may make to another credit union account or withdrawals when such transfer or withdrawal is initiated in person, by mail or at an ATM. If a transfer request would exceed the transfer limitations set forth above, the credit union may refuse or reverse the transfer, or your checks may be returned.
   
   
8. Maturity - Your account will mature on the maturity date stated on your Certificate of Deposit Receipt.
   
   
9. Early Withdrawal Penalty - For Certificates of Deposit, we may impose a penalty if you withdraw any of the principal before the maturity date.
   
   
   1. Amount of Penalty. For Certificates of Deposit, the early withdrawal penalty amount is based on the following schedule:
      1. 12 months term or less: 30 days interest on the withdrawn amount
      2. More than 12 months term: 90 days interest on the withdrawn amount
         
         
   2. How the Penalty Works. The penalty is calculated as a forfeiture of part of the interest that has been or would be earned at the Interest Rate on the account. It applies whether or not the interest has been earned. In other words, if the account has not yet earned enough interest or if the interest has already been paid, the penalty will be deducted from the principal.
      
      
   3. Exceptions to Early Withdrawal Penalties. At our option, we may pay the account before maturity without imposing an early withdrawal penalty under the following circumstances:
      
      
      1. when an account owner dies or is determined legally incompetent by a court or other body of competent jurisdiction.
      2. when an IRA account owner dies, reaches 70 and a half, becomes disabled or elects to take prearranged periodic payments.
         
         
10. Renewal Policy – Unless otherwise disclosed on your Certificate of Deposit Receipt, all Certificate of Deposit accounts are automatically renewable to interest rates in effect at the time of maturity for that applicable term. Rewards CDs and New Member CDs will automatically renew to “regular” CD rates in effect at the time of maturity for the applicable term. 7 month CDs will automatically renew to a 6 month term and 6 month rates in effect at time of maturity. Renewable accounts have a grace period of five (5) business days after maturity in which to withdraw funds from the account without being charged an early withdrawal penalty.
    
    
11. Nontransferable/Nonnegotiable - All accounts are nontransferable and nonnegotiable. The funds in your account may not be pledged to secure any obligation of an owner, except with the Credit Union.